Local Corp. (LOCM) Launches New Vertical Site to Expand Reach and Engagement with Local Businesses and Consumers
Local Corporation, a leading online local media company that connects brick-and-mortar businesses with over a million online and mobile consumers each day using a variety of innovative digital marketing products, today announced the successful launch of its first content driven, industry specific website. The website is designed to be the first in a series of sites that are aimed at extending Local Corporation’s reach and engagement with local consumers and businesses.
The company, which was recently ranked #8 on Website Magazine’s “Top 50 Digital Advertising Networks,” has further plans to utilize these industry specific websites to better penetrate the monetization of local markets, specifically.
Local Corporation’s first site, www.insurancelow.net, provides the user with the ability to compare insurance quotes while also offering a car insurance guide which details important decision criteria when choosing an insurance carrier. According to J.D. Power and Associates, auto insurance is a $161 billion industry that spent about $5.3 billion on advertising in 2011.
In addition to industry specific content, Local Corporation has stated that each site will include educational articles and other content designed around specific topics. Additionally, the sites will provide the ability to request and receive a quote from a licensed industry professional via the completion of a brief form, as well as a directory that enables consumers to search for service providers in their local area, providing them with contact information and user ratings and reviews.
Local Corporation has stated that it has plans to focus monetization of its new portfolio of sites via lead generation and through a variety of digital ad formats, such as pay-per-click, pay-per-call, display, and subscription ad units. Future planned vertical site releases will focus on additional key consumer service categories.
“We already provide small businesses with leads as part of our ‘Launch by Local’ digital media suite for small businesses, so it’s natural for us to expand further into this performance ad segment,” commented Heath Clarke, Local Corporation, chairman and chief executive officer. “These sites expand our ecosystem and lead generation is expected to help us to optimize overall monetization by harvesting leads from the 30 million consumers we reach each month, who are searching for goods and services locally.”
In 2011, approximately 30 percent of all online searches were conducted locally and were valued at $5.7 billion, according to BIA/Kelsey. It is expected that by 2016 local online searches will grow by a CAGR of 12 percent, representing 35 percent of all online searches, and will be valued at $10.2 billion. Digital media and advertising is a quickly growing format, with billions of new dollars flowing in from traditional and online advertisers attempting to reach local consumers online. Local Corporation expects its use of vertical sites will assist the company in claiming an increased portion of this transitioning media spend.
For more information on Local Corporation, visit www.corporate.local.com
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